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"FinScan can deliver advanced screening and detection capabilities to a broad set of emerging markets—notably insurance, a highly complex emerging market where FinScan stands out with its tailored solutions"
Nick Vitchev, Research Director at Chartis
How Insurers Use FinScan
Truly Know Your Customer
Know who you are doing business with and make well-informed decisions when selling a policy, paying out claims, etc., even when third-party agents are involved.
Screen entities and payments beyond basic legal requirements with advanced risk data sets and for all persons involved, from policy holders, to beneficiaries and persons with significant entity control.
Deter Financial Crime
Don’t let bad actors use your business for money laundering or other financial schemes. Detect and deter high-risk transactions for policy premiums and claims payouts with cutting-edge screening technology designed to outpace evolving financial crime schemes.
Faster Onboarding & Payments
Integrate AML operations seamlessly into your claims processing and policy issuance workflows to resolve cases faster, scale operations and compliance, and provide a seamless experience for your customer.
Reduce Manual Review
Save time by streamlining manual case processing and eliminate the noise of time-consuming false positive matches.
of the World’s Top 20 Insurance Companies
Rely on FinScan for Their AML & KYC Compliance
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A GLOBAL INSURER
Reduced False Positives by 40%
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70M+ records screened daily
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enforced risk tolerance thresholds in practice
FinScan has proven it can support global scale and complex regulatory requirements without compromising control.
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INSURTECH PLATFORM
Reduced certificate issuance from days to mins
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advanced, configurable screening for complex webs of parties
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automated screening & certificate issuance
FinScan’s integration and screening just works . . . silent, efficient, and always dependable.
A GLOBAL INSURER
Screens 95M records consistently across 10 countries
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155 data feeds seamlessly connected
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native-to-native screening, transliteration technology where native lists absent
Over two decades, the health insurer has relied on FinScan to configure AML to each country’s regulatory regime.
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A P&C INSURANCE LEADER
Cleans their data & discovers 400+ missed OFAC-listed customers
The removal of 560,000 duplicate alerts saved 2,796 hours of manual review time annually, equal to $75,000 in full-time equivalent (FTE) costs.
A LEADING UNDERWRITER
FinScan consistently caught more than 38 algorithmic variations
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phonetic algorithms, date shifts, character mapping, abbreviations, concatenations, and transliteration and translation errors
Reassure Regulators
Exceed your regulatory requirements with advanced risk datasets, evaluation models, and robust processes, all supported by detailed audit trails.
Why Finscan?
Holistic Risk Approach
FinScan provides a complete AML & KYC Compliance program, so you can properly evaluate your risk exposure from all facets in one place.
Better Data & Better
Screening Tools
Most companies switch systems due to bad data leading to inaccurate results.
Data expert, FinScan leads the industry with data quality tools and matching algorithms to reduce false matches and identify hidden risk exposure.
A GLOBAL INSURER
Reduced False Positives by 40%
-
70M+ records screened daily
-
enforced risk tolerance thresholds in practice
FinScan has proven it can support global scale and complex regulatory requirements without compromising control.
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INSURTECH PLATFORM
Reduced certificate issuance from days to mins
-
advanced, configurable screening for complex webs of parties
-
automated screening & certificate issuance
FinScan’s integration and screening just works . . . silent, efficient, and always dependable.
A GLOBAL HEALTH INSURER
Screens 95M records consistently across 10 countries
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155 data feeds seamlessly connected
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native-to-native screening, transliteration technology where native lists absent
Over two decades, the health insurer has relied on FinScan to configure AML to each country’s regulatory regime.
A LEADING UNDERWRITER
FinScan consistently caught more than 38 algorithmic variations
-
phonetic algorithms, date shifts, character mapping, abbreviations, concatenations, and transliteration and translation errors
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Recommended Products
A TECH-FORWARD SPONSOR BANK
Reduced False Positives by 74%
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dropped noise words, incorporated spelling variations & cultural naming conventions
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fuzzy match capture improved from 82% to 93%
Achieved 60 ms end-to-end latency per transaction
INSURTECH PLATFORM
Reduced certificate issuance from days to mins
-
advanced, configurable screening for complex webs of parties
-
automated screening & certificate issuance
FinScan’s integration and screening just works . . . silent, efficient, and always dependable.
A GLOBAL FINANCIAL SERVICES FIRM
46K misplaced names identified, 560K false matches eliminated
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misplaced names, now screened, identified 407 actual sanctions matches
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20% of false matches eliminated saved 1.8 FTE in resources
A LARGE SHIPPING COMPANY
93% reduction of existing near matches
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solved data quality issues caused by inconsistent notations
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fine-tuned matching scenarios and precise watchlist pre-filtering
Real-time API-based screening, where automated parsing creates sub-records to catch true hits
FAQs
Insurance companies face increasing regulatory scrutiny and financial crime risks—especially with products like single-premium life policies, cross-border payments, and third-party transactions. Unlike banks, insurers often operate with limited customer data and fragmented legacy systems, creating blind spots in KYC and due diligence. They may lean on banking partners for compliance assistance, but regulators expect insurers to run independent AML programs.
FinScan helps close these gaps by delivering advanced AML, sanctions, and KYC capabilities purpose-built for the insurance industry. It enables insurers to detect hidden risks, meet evolving compliance obligations across jurisdictions, and avoid costly fines, reputational damage, and operational delays—all while improving customer experience and maintaining business continuity.
Yes. FinScan’s real-time payment screening supports fast-moving transactions, including claims, commissions, and cross-border premiums. It helps detect suspicious patterns without delaying legitimate payouts.
Yes. FinScan is designed to integrate with existing insurance platforms and data sources, so you don’t have to change the way you work. It centralizes risk data for a complete customer view, reducing duplication and enhancing risk detection.
Yes. FinScan is designed to solve the most difficult problem for insurers operating across multiple jurisdictions: navigating inconsistent AML and sanctions regimes. It supports a wide range of regulatory frameworks, including FATF, OFAC, EU, UK, and APAC-specific guidelines. With multi-language name screening, configurable risk scoring, and robust audit trails, FinScan enables organizations to comply with both local and international regulations as these evolve.
FinScan is recognized for its insurance-specific expertise, earning Chartis’ AML Excellence in Insurance Award in 2025 and is trusted by some of the world’s leading insurers including Prudential, Manulife, AmTrust, Qatar General Insurance, and more.
It offers:
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Insurance-tailored screening workflows – FinScan accommodates policyholder onboarding, claims processing, and beneficiary checks, integrating seamlessly into core insurance systems.
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Advanced matching for complex name structures – Crucial for screening policyholders, reinsurers, and beneficiaries from diverse regions and languages.
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Minimization of false positives – Helps insurers avoid unnecessary delays in policy issuance and claims payouts by focusing investigative resources only on true risks.
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Audit-ready compliance – Built-in audit trails and reporting features make it easier for insurers to meet regulatory scrutiny during exams or audits.
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Flexible deployment options – FinScan supports both on-premise and cloud deployments to meet insurer-specific IT, data privacy, and regulatory requirements.
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Global sanctions and PEP coverage – Ensures compliance across multiple jurisdictions, critical for insurers operating internationally or covering expatriate and foreign policyholders.
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